Bitcoin price falls below $4,300 for the first time in 13 months as the bloodbath continues

On February 5, 2018, we wrote an article titled:”Bitcoin bloodbath continues: Bitcoin falls below $7,000.” We received several comments and backlash from Bitcoin bulls and investors who predicted that Bitcoin would end the year at around $20,000. They may still be right. However, things are not looking good right now as the total market cap slid down to $146.9 billion today. The price of Bitcoin has sunk to below $4,300 for the first time in 13 months, with no idea of when the world’s most popular cryptocurrency will reach the bottom.

Those who bought Bitcoin in December 2017 when the it was worth almost $20,000, have lost more than $15,000 of their investment. Let that sink in for a moment. Bitcoin is not alone. Other second class cryptocurrencies like Ethereum and Ripple suffer worse loss.

Over the past fours hours, Bitcoin has gone through a roller coaster ride. Amid extreme volatility, the price of Bitcoin went from $4,050 to $4,560 and back to $4,395 as at the time of writing.

From November 15 and now, the cryptocurrency total market capitalization fell from $210 billion to $146.9 billion today. That’s a loss of more than $60 billion in just six days.